1. Field of the Invention
The present invention generally relates to financial transaction systems, and more particularly to financial transaction systems that utilize personal profiles.
2. Brief Description of the Related Art
Transaction payment systems are prevalent throughout society. Instead of using cash, consumers are now using many different types of payment devices to buy a wide range of items. These payment devices can include credit, debit, prepaid and smart cards, as well as cellular phones, personal digital assistants (PDAs), and other types of devices.
For example, in some implementations, consumers use smart cards to make payments without having to manually swipe a card through a conventional point-of-sale device (i.e., a magnetic strip card reader). An exemplary smart card is the MasterCard PayPass® card. This card is an enhanced payment card that includes an embedded microprocessor chip and antennae (i.e., a miniature Radio Frequency (RF) transceiver chip and an antenna, or an active Radio Frequency Identification (RFID) tag).
Many consumers receive rewards for using payment devices, such as frequent flier points and gift certificates, as an incentive to use the devices. Typically, the rewards are earned subsequent to purchasing the item or service, which may or may not include balance transfers, cash advances, or other special uses. The rewards are typically not earned based on product or service preferences. Accordingly, an improved implementation that provides rewards based on consumer preferences is desired.